Program Directors
![Mark Aguir Profile](jpg/markaguirprofile240x256efa8.jpg)
Mark Aguiar is the Walker Professor of Economics and International Finance at Princeton University. His research spans both open- and closed-economy macroeconomics, including sovereign debt, business cycles in emerging markets, capital taxation, growth, and the micro-foundations of consumption and labor supply. He has been an NBER affiliate since 2008.
![Linda Tesar](jpg/lindatesar240x2562179.jpg)
Linda Tesar is a professor of economics at the University of Michigan. Her research examines cross-country business cycle linkages, capital flows to emerging markets, the consequences of exchange rate exposure, and global risk-sharing. She has been an NBER affiliate since 1993.
Featured Program Content
![Chinese Firms Access Foreign Capital in International Tax Havens](/sites/default/files/styles/promo/public/2023-02/w30865.jpg?itok=AapXWZpc)
Tax havens are increasingly the avenue for emerging market countries, particularly China, to raise money from foreign investors. Many Chinese companies use...
![Working paper figure w30087](/sites/default/files/styles/promo/public/2022-07/w30087.jpg?itok=7aibAmjF)
National governments that finance their activities by issuing debt must find someone to buy it. The interest rate they must pay to borrow depends on the...
![The US, Economic News, and the Global Financial Cycle figure](/sites/default/files/styles/promo/public/2023-04/w30994.jpg?itok=ctOsAfoj)
While it has been widely documented that financial conditions are correlated across countries, less is known about the origins of this comovement. A...